SUPERVALU Completes Acquisition of Associated Grocers of Florida
December 08 2017 - 4:29PM
Business Wire
SUPERVALU INC. (NYSE: SVU) today announced it has completed the
previously announced acquisition of Associated Grocers of Florida,
Inc. in a transaction valued at approximately $193 million.
Associated Grocers of Florida adds a dynamic grocery wholesaler to
SUPERVALU’s growing national distribution network with annual sales
of approximately $650 million in its last fiscal year as estimated
under SUPERVALU’s accounting policies. This acquisition marks the
second completed acquisition of 2017 for SUPERVALU as the Company
continues to strategically invest in growing its wholesale
business.
“The addition of Associated Grocers of Florida is another
important step on our journey to becoming the wholesaler of choice
for grocery retailers,” said Mark Gross, SUPERVALU’s President and
Chief Executive Officer. “AG of Florida has a tremendous retailer
base across central and south Florida and we’ll immediately gain a
vibrant group of customers as well as an ability to expand
internationally with AG’s customers in territories that include the
Caribbean, and Central and South America.”
Gross continued, “I’m also thrilled that Christopher Miller,
AG’s former president, will continue with us in a similar role as
president of SUPERVALU Florida going forward. Chris has built a
great team and we’re very excited that they’re now a part of our
SUPERVALU family. Between the Unified Grocers and AG of Florida
acquisitions, we’ve added substantial talent that will help us meet
the rapidly changing needs of the markets we serve, including the
growing specialty, organic, Latino and Hispanic markets.”
About SUPERVALU INC.(The
following information on sales, store counts and employees is as of
SUPERVALU’s last fiscal quarter end and does not include AG of
Florida)
SUPERVALU INC. is one of the largest grocery wholesalers and
retailers in the U.S. with annual sales of approximately $16
billion. SUPERVALU serves customers across the United States
through a network of 3,337 stores composed of 3,120 stores
operated by wholesale customers serviced primarily by SUPERVALU’s
food distribution business and 217 traditional retail grocery
stores operated under five retail banners in six geographic regions
(store counts as of September 9, 2017). Headquartered in
Minnesota, SUPERVALU has approximately 31,000 employees.
Founded in 1945, Associated Grocers of Florida, Inc. is a
wholesale grocery distributor that supplies full lines of groceries
and general merchandise to independent retailers and regional
chains throughout Florida, Central America, South America and
Caribbean countries.
For more information about SUPERVALU visit www.supervalu.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171208005706/en/
SUPERVALU INC.Investor Contact:Steve
Bloomquist, 952-828-4144steve.j.bloomquist@supervalu.comorMedia
Contact:Jeff
Swanson, 952-903-1645jeffrey.s.swanson@supervalu.com
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